2022 ImpACT Meeting - Session 9I: SOA Research Institute Cyber Risk Research Recording

Increasing cyber incidents and emergent characteristics of cyber threats have become significant concerns for organizations, governments, and the insurance sector. The growing cyber risks, whether catastrophic risks that an entire town, country, or even world may face due to cyber-attacks, or smaller scale cyber risks such as right where you live with smart home technology, can impact technological infrastructure, public health and safety, economic security, and even political stability.The SOA Research Institute has been conducting several research projects in the area of cyber security risks and the impact of those on insurance companies. Discover these research projects meant to inform actuaries of the ways in which risks can be incorporated into their models, product design, and risk management frameworks. Also, explore research reports that explore new technologies and the development of tools which can aid both practitioners as well as other researchers.
By attending the session, you will be able to:
- Learn the type of cyber risk exposures that are of relevant risk to insurance companies.
- Understand the various insurance coverages which cyber risks can affect, such as health, property, economic and casualty.
- Learn about the types of cyber risks they can insure to offer cover for individuals, commercial and potentially governmental policyholders. The range of impacts can be from small scale, such as with an individual home monitoring system, to large scale such as catastrophe attacks which could be on the order of a pandemic in terms of disruption.
- Attendees will have a well-rounded understanding of these topics as well as the gaps in the knowledge base that the SOA Research Institute can look to fill.
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